International bilateral customers in the Nigerian electricity supply industry did not make any payments against the cumulative invoice of $14.19 million issued by the Market Operator for services rendered in the first quarter of 2024, according to a report from the Nigerian Electricity Regulatory Commission (NERC).
The four foreign companies involved include Para-SBEE in Benin Republic, owing $3.15 million; Transcorp-SBEE in Benin, with $4.46 million; Mainstream-NIGELEC in Togo, owing $1.21 million; and Odukpani-CEET in Togo, with a debt of $5.36 million.
NERC also revealed that no payments were made by local bilateral customers against a cumulative invoice of N1.86 million issued for the same period. However, some bilateral customers, both local and international, made partial payments during the quarter for outstanding invoices from previous periods. Specifically, two international customers paid a total of $5.96 million, while eight local bilateral customers paid N505.71 million towards debts incurred before the first quarter of 2024.
The commission expressed concern over what it termed "payment indiscipline" and urged the Market Operator to enforce market rules to address the issue. The report follows earlier revelations that international power consumers failed to remit about $51.26 million to Nigeria for electricity exported in 2023, contributing to a growing financial challenge within the sector.
NERC's analysis highlighted the need for stricter enforcement of payment obligations, as non-remittance by both international and local bilateral customers continues to strain Nigeria's electricity supply industry.
